Job description:

Brief Role Description

The Underwriting & Actuarial Mgr plays a pivotal role in shaping the insurance portfolio through expert risk assessment, pricing strategy, and financial modeling. This position blends deep actuarial knowledge with hands-on underwriting leadership to ensure sound decision-making and profitability across insurance products. This role requires a strategic thinker with strong analytical skills, deep insurance knowledge, and the ability to lead cross-functional teams in a dynamic environment.

Position level: 10

Reports: Senior Director, Finance Insurance NAR

Role classification: Hybrid

Key Responsibilities

Underwriting Responsibilities:

• Evaluate complex insurance applications to determine risk levels and coverage eligibility.
• Develop and implement underwriting guidelines and procedures to ensure consistency and compliance.
• Review and approve high-value or non-standard policies, often requiring nuanced judgment and negotiation.
• Collaborate with brokers, agents, and clients to clarify application details and negotiate terms.
• Ensure regulatory compliance with insurance laws and internal standards.

Actuarial & Analytical Duties

• Support the implementation of IFRS 17 for the insurance products
• Understand and provide effective challenge on Pricing and Reserve calculation for Auto Insurance products
• Collaborate with the Risk Management Planning and Reporting Group, Accounting and senior management in establishing adequate loss provisions for Insurance products
• Engage with CFO, VP of Finance and Chief Risk Officer, Accounting, Risk Management, Brand executives and external auditors to gain acceptance on the loss and reserve forecasts. Provide technical and operational support to auditors to ensure successful audit close
• Be able to extract data from data warehouse for Insurance products and perform analysis on upcoming issues/trends
• Providing all actuarial inputs for income recognition for actual and forecast models
• Regular updates on Loss curves vs. priced. Perform comparison of actual to priced loss ratios

Leadership & Strategic Oversight

• Lead and mentor a team of underwriters and analysts, providing training and performance feedback.

• Set strategic direction for underwriting and risk management aligned with company goals.

• Implement process improvements to enhance efficiency, accuracy, and turnaround times.

• Participate in cross-functional initiatives, including sales, claims, and compliance.

Profile description:

Qualification requirements

Education

Minimum Required:

• Bachelor’s Degree in a quantitative discipline: Statistics, Mathematics, Economics, Operations Research

Preferred:

• Master’s Degree in related field
• Professional certifications such as CPCU, FCAS, or ASA

Experience

Minimum Required:

• 10+ years minimum, Strong background in insurance underwriting and actuarial science preferred.
• At least 5 years working as an actuary in the Insurance industry and having an ACAS designation

Desired:

• 3 years working in Auto Insurance Industry with knowledge of Auto Insurance products.

Skills

(Qualification, Certification, or Professional Designations)

Minimum Required:

• Lead and direct the work of others.
• Ability to conduct large scale projects and research through all stages: concept formulation, definition of metrics, determination of appropriate methodology, research evaluation and final research report
• Specialized ability to communicate highly technical subjects to the senior executives and others who have limited background in mathematics or statistics
• Analytical and conceptual thinking – ability to understand business problems and develop data-driven solutions
• Support a robust pricing and/or reserving review process for insurance business, including both standard actuarial techniques and advanced modeling
• Proficiency in data analysis tools, underwriting software, and statistical packages.
• Develop indications and communicate them to Actuarial Management and Senior Leadership
• Work collaboratively as a part of the broader Pricing and/or Reserving process
• Develop and communicate business analytics to Senior Leadership
• Foster innovation within the team and across the broader organization
• Support development of themselves and other associates in an actuarial capacity and according to VCI vision and mission statement

Preferred:

• Ability to build models using open-source software (e.g. R, Python), experience in distributed statistical computing preferred

• Personal or commercial auto insurance experience

• Excellent Excel skills and strong with SQL

• Experience mentoring and/or directing junior team members.

We offer:

All applications are thoroughly reviewed by our recruitment team, and no artificial intelligence or automated technologies are utilized in the screening process.

Full-time employees of Volkswagen Financial Services enjoy these benefits:

Health Insurance Coverage: We provide comprehensive insurance coverage, including health, dental, and vision plans, to ensure our employees and their families are well-protected and have access to quality healthcare services.

We offer a flex health benefit program, including health, dental, and vision plans, to ensure our employees and their families are well-protected and have access to quality healthcare services that fits their needs.

Retirement Plans & Savings: Planning for the future is important, which is why we offer competitive defined contribution retirement plan at no cost to the employee to help our employees save for their long-term financial goals. In addition, we have a generous savings matching program.

Compensation: We believe in recognizing individual contributions and sharing company performance. Our Bonus & Merit Program reinforces a reward and a pay-for-performance culture.”

Vehicle Leasing Program: Our Vehicle Leasing Program offers employees the convenience and cost savings of leasing company vehicles at discounted rates. Employees and eligible family members can lease up to four vehicles per year.

Work Environment: Our workplace sets the standard with its state-of-the-art facility, designed to inspire creativity and productivity. We believe in fostering an environment where our employees feel empowered to do their best work, and our flexible hybrid policy reflects our commitment to accommodating diverse work styles and needs.

Floaters Days: We understand the importance of work-life balance, which is why we offer floaters days that can be used at your discretion for personal reasons or to recharge. We've included these days to be inclusive of holidays or celebrations that are that are important to employees. This allows you to commemorate whatever might be important to you.

Company Designated Holidays: In addition to offering floaters days, we also recognize the importance of celebrating the holiday season with our team. That's why we designate specific company holidays during the December holiday period, ensuring our employees can enjoy this festive time. *Schedules may vary depending on the specific needs of certain parts of our business.

Wellness Programs: We care about the holistic well-being of our employees, which is why we offer various wellness programs designed to promote physical, mental, and emotional health. These may include discounted gym memberships, mental health resources, and more.

Tuition Reimbursement: We offer this program as part of our commitment to employee development. This benefit supports continued education by covering approved course expenses, fostering both professional growth and long-term career advancement.

Volkswagen Financial Services is committed to diversity and inclusion in the workplace. All qualified applicants will receive consideration for employment without regard to race, colour, religion, sex, sexual orientation, family status, gender identity, gender expression, national origin, age, disability or any other characteristic protected by federal, or local laws. Volkswagen Financial Services is committed to accommodating applicants and employees with disabilities. Should you require accommodation during the recruitment and selection process, please advise in advance.

Only shortlisted candidates will be contacted.